Ronnie the Rhino Youngsaver

Leeds Building Society believe that young savers should be given the best start - and what better for rugby fans than a Ronnie the Rhino account?

The account offers a range of benefits, including access to your money. So why not open an account for your child or grandchild and give them a great start.

Interest Rate:

1.75%Gross‡ p.a./AER† (variable)

Account Name

Ronnie the Rhino Youngsaver

What is the interest rate?

Annual Interest 1.75% Gross‡ p.a./AER† (variable)

If the balance falls below £10, the rate of interest which shall apply is 0.05% Gross‡ p.a./AER† (variable).

Interest is calculated daily and paid annually on 30 June

Interest can be credited to the account or transferred to another building society/bank account or to another account held with the Society.

Can Leeds Building Society change the interest rate?

Yes, the interest rate is variable. This means that we have the ability to change the interest rate. Please see conditions 14 and 15 of the General Conditions for further details.

What would the estimated balance be after 12 months based on a £1000 deposit?

Assuming that £1,000 is deposited into the account on 1st July and no further deposits or withdrawals are made, then based on an interest rate of 1.75% you will receive a £17.50 interest payment after 12 months, giving an overall account balance of £1,017.50

This projection is provided for illustrative purposes only and will depend on the individual circumstances of each customer.

How do I open and manage my account?

You must be aged 17 or under to open the account.

When you reach 18 years old, your account will automatically transfer to an instant access account. We will write to you with full details nearer the time.

The account can be opened through any of our branches or by post. At least one authorised signatory will need to open and operate the account on behalf of the account holder. The authorised signatory may only open and operate one account per account holder.

Account holders aged under 12: Unlimited withdrawals of £10 and over subject to the minimum operating balance of £10 being maintained.

All withdrawals must be signed for by the authorised signatory.

Account holders aged 12-17: One withdrawal a week of between £10 and £250 may be made and must be signed for by the account holder, subject to the minimum operating balance of £10 being maintained.

Withdrawals over £250 and additional withdrawals in a week must be signed for by both the account holder and the authorised signatory.

Additional Information

Interest is paid gross, without the deduction of income tax. Payment of gross interest does not mean that interest you receive is exempt from tax. The tax treatment depends on the individual circumstances of each customer and may be subject to change in the future. It is your responsibility to seek independent tax advice.

The account may be closed to further deposits upon a minimum of 30 days’ written notice.

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† AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year.

Cash ISAs are available to individuals aged 16 and over who are resident in the UK for tax purposes.

‡ Gross means the rate of interest payable before the deduction of income tax at the rate specified by law.

Leeds Building Society is a member of the Building Societies Association.

Leeds Building Society is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority. Leeds Building Society is registered on the Financial Services Register under number 164992. You can check this on the FCA website at www.fca.org.uk/firms/systems-reporting/register or by calling 0800 111 6768. Buy to Let mortgages which are for business purposes are exempt from FCA Rules.

We may monitor and/or record your telephone conversations with the Society to ensure consistent service levels (including colleague training). If you are contacting us by email and not using our secure email facility, please remember not to send any personal, financial or banking information because your information isn't secure.